Facebook Owner Meta Begins Latest Layoffs

 

Facebook parent company Meta has started notifying staff for another round of layoffs.

Mark Zuckerberg had said the layoffs are part of his plans to ensure a “year of efficiency” in 2023 and enable the firm to invest in the future.

Meta, which also owns Instagram and WhatsApp, has been under pressure since a sharp slowdown in its ads business last year. It had already let go 13% of its staffs with about 11,000 people last year.

Some of Meta’s layoff staffs wrote on social media saying they were looking for fresh roles for new jobs.

The cuts could be in the range of 4,000 jobs, and while employees outside of North America would be notified by email at varying timelines, some countries will not be impacted and employees in North America will be notified by email between 4 am to 5 am PT Wednesday morning. The firm has also mentioned that timing could differ for people outside of the US and some cuts may not be complete until the end of the year.

Employees in North America who can work from home are told to do so on Wednesday so the people can have enough space to process the news.

According to the firm’s plans, the newest notifications apply to people working on the firm’s IT teams. While another round of layoffs affecting business and administration teams is expected to commence next month.

The tech industry, where low borrowing costs had helped fuel investments and growth, has been hit particularly hard.

With the announcements tracked by website layoffs.fyi, More than 170,000 people in the industry have been laid off globally since the start of the year, with big names such as Amazon and Google accounting for some of the largest steps.

Digivation Network

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